Oct 14, 2013

The Debt Has Been Growing 4 Times Higher Than The Growth

U.S. GDP is measured at roughly $15 trillion per year. 2% growth means that each year the GDP is approximately $300 billion larger than the prior year. But in the less than five years since Obama took office, the federal government has added, on average, about $1.3 trillion per year in new debt, a pace that is four times higher than the growth.

Peter Schiff

Peter Schiff is an American businessman, investment broker and financial commentator.

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